Opting for redevelopment of housing societies is not that easy. You will need to have proper knowledge about the entire process, which includes having two-thirds of the society members’ consent; every member should be given a new home; developers will be required to provide amenities like a swimming pool, gym and others. It will be better to seek a legal expert’s advice.
How to Do Housing Society Redevelopment?
The process of redeveloping housing societies calls for:
Consent Requirement: 66% of members need to agree on redevelopment
Fair Bidding: Builders must be chosen through a clear and fair tender process.
Approvals Needed: All projects must get permission from municipal authorities and follow building rules.
The approval process has become super fast nowadays to ensure that the rights and interests of all the society members are safeguarded during this tedious process.
How Much Time Does Redevelopment Take?
Generally, the redevelopment of a society takes a minimum of about 5 years. This time starts right from handing over the existing society to the builder till the time of possession.
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Redevelopment of a housing society is a complex process that involves various steps. The first step is to call a Special General Body Meeting (SGM) to discuss the redevelopment project and suggestions on the same. The managing committee should invite bids from architects/project management consultants (PMC) and get quotations. The PMC will then prepare a detailed project report (DPR) that will include the cost of the project, the time required for completion, and other details. Once the DPR is approved by the members of the society, the PMC will invite tenders from contractors for carrying out the construction work. The PMC will supervise the construction work and ensure that it is completed within the stipulated time frame.
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Authors Of The Question
How to do redevelopment of a housing society?
sagargandhi84
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2 Answers
1 Year
2023-07-19T16:52:03+00:00 2023-07-19T21:39:23+00:00Comment
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